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Taxes

state income tax

Most states levy an income tax on their residents that is in addition to the federal income tax. Laws vary from state to state but in most states the state income tax is a tax on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities.

There are nine states that do not have a state income tax—including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. But New Hampshire levies a tax on capital gains and Washington state recently enacted a tax on extraordinary profits from the sale of financial assets over $250,000.

Rhode Island imposes a state income tax on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities. This tax is separate from and in addition to the federal income tax. The state's tax structure includes different rates and brackets for individuals based on their income level. Corporations are also subject to a corporate income tax. Rhode Island does not fall into the category of states without an income tax; it actively levies this tax and adjusts rates and brackets periodically. Taxpayers in Rhode Island must comply with state tax laws and regulations, including filing annual state income tax returns by the prescribed deadlines.

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Taxes

state income tax

Individual & Family Legal Plan

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Rhode-Island State Code

Rhode-Island State Code

Taxes

state income tax

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